5805 royalmount avenue montreal qc h4p 0a1 to the

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5805 Royalmount Avenue Montreal, QC H4P 0A1 To the appropriate representative of those charged with governance of Dollarama Inc.: This letter will confirm the arrangements discussed with you regarding the services we will render to Dollarama Inc. and its subsidiaries ("the Company") commencing with the fiscal year ending January 30, 2011. Objective, scope and limitations Our statutory function as auditors of Dollarama Inc. is to report to the shareholders by expressing an opinion on Dollarama Inc.’s annual consolidated financial statements, which comprises the consolidated statement of financial position as at January 29, 2012, and the consolidated statement of comprehensive loss, consolidated statement of equity, and consolidated cash flow statement for the year then ended, and a summary of significant accounting policies and other explanatory information. We will conduct our audit in accordance with Canadian generally accepted auditing standards and at the conclusion of our examination, we will submit to you a report containing our opinion on the consolidated financial statements. If, during the course of our work, it appears for any reason that we will not be in a position to render an unqualified opinion on the consolidated financial statements, we will discuss this with you. An auditor conducting an audit in accordance with Canadian generally accepted auditing standards obtains reasonable assurance that the consolidated financial statements taken as a whole are free of material misstatement, whether caused by fraud or error. An audit involves performing procedures to obtain audit evidence regarding the amounts and disclosures in the financial statements. This includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by management, as well as evaluating the overall presentation of the financial statements. It is important to recognize that an auditor cannot obtain absolute assurance that material misstatements in the consolidated financial statements will be detected because of factors such as the use of judgment, selective testing of data, inherent limitations of controls, and the fact that much of the audit evidence available is persuasive rather than conclusive in nature. Furthermore, because of the nature of fraud, including attempts at concealment through collusion and forgery, an audit designed and executed in accordance with Canadian generally accepted auditing standards may not detect a material fraud. While effective controls reduce the likelihood that misstatements will occur and remain undetected, they do not eliminate that possibility. Therefore, we cannot guarantee that fraud, misstatements and non-compliance with laws and regulations, if present, will be detected when conducting an audit in accordance with Canadian generally accepted auditing standards.
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